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What is the Small Business 30k Asset Tax Write Off Scheme?

How to take advantage of the Small business $30,000 tax write-off?

Australian small-business owners are celebrating the government’s 30k tax write0off proposed boost to the popular instant asset write-off scheme in last night’s federal budget, claiming it will allow them to invest further in their businesses. If you dont have the cashflow to purchase an asset a business loan may help from Capify.      Small Business Minister Michaelia Cash, said she supported using “any mediums” to help SMEs improve their awareness of the tax scheme, but ultimately said it was up to accountants and financial advisors to inform their clients in the tax incentive.

Below we have formed a guide that may help you.

We understand that buying equipment for your business can be expensive, so its important that every business owner knows when and where they can write off their company purchases.

According to the Australian Taxation Office website, the $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed.

The $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed.  This provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed. To take a business loan to assist with cashflow business owners should get advise from their finance advisor or accountant.

This guide has been created for you to help small business understand the tax incentive when they are looking for a work capital injection to get them through an urgent short term need or to address ongoing business requirements.

 

To be eligible, your business must:

  • Be a small business as recognised by the ATO
  • To find out how small businesses are defined, visit Small Business Entity Concessions – Eligibility.

 

Assets must:

  • Cost less than the instant asset write-off threshold
  • Purchased and used in the year the write-off is claimed
  • Find out more at Instant Asset Write-Off.

The guide outlines the main funding options from Capify. $30,000 instant asset write-off.

What do you call a person who owns a small business?
A person/s who owns a small business is commonly called a ‘small business owner’.

What is important to small business owners?

Small businesses are very important for local economies, keeping the money close to home and supporting neighbourhoods and communities.

Using the instant asset write-off, you can claim a deduction for each asset that cost less than the threshold that applied when the asset was first used or installed ready for use.

What makes a small business successful?

Many don’t make it to their fifth year anniversary. Those small businesses that survive are important Gross Domestic Profit and go on to employ most of the workforce.

Who can apply for an ATO business write off?
At a minimum, you must be a small business entity as defined by the ATO
Other eligibility requirements may apply.
Contact information ATO on 13 28 66

How do I claim the instant business asset write-off?
If you buy an asset that comes under the threshold, you can claim the business portion of the asset’s use in your tax return for that financial year. When it comes to trade-ins, the instant asset write-off is assessed based on the full purchase price of the item.

The $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the cancellation is claimed.

How to Apply for a Tax Write-Off?

There is no application required. The write-off is applied when you lodge your tax for the relevant year.  Find out more at Instant Asset Write-Off. Instant asset write-off thresholds using the simplified depreciation rules, assets costing less than the applicable instant asset write-off threshold are written off in the year they are first used or installed ready-for-use.

This threshold applies to each asset irrespective of whether the asset is purchased new or second-hand.  Speak to an accountant for advice.

What are the Instant asset write-off thresholds?

Criteria to be eligible, you must be a small business as recognised by the ATO To find out how small businesses are defined, visit Small Business.

Instant asset write-off thresholds can be found on the link below.
https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/In-detail/Depreciating-assets/Simplified-depreciation—rules-and-calculations

The instant 30k write off is an introduced law from the Australian Government and the federal budget for small business owners. The $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed (Smallbusiness.wa.gov.au, 2019).


What can the Small Business Scheme be used for?

Depending on which industry the enterprise is trading in, the 30,000 dollars’ worth of funds saved as a result of this legislation, gives enterprises the opportunity to increase their working capital. With these types of monetary funds, businesses tend to purchase and increase stock so that they have more of a variety to offer to consumers whilst meeting their demands (Hecht, 2015). Stock is critical as it is the lifeblood of the business because it creates sales, thus creates cash flow allowing businesses to meet financial obligations and make a profit.

Furthermore, the equipment can be purchased which assists the business if they wish to expand operations to other locations, or just in size (Hecht, 2015). Efficiency then plays a critical role in the growth of operation as it becomes one of the keys to sustaining this growth as it saves certain expenses such as employing more people.

Small businesses who consolidate their debts with a Capify Small Business Loan or Merchant Cash Advance can also use the funds to pay bills, marketing, business ideas, hiring extra staff, purchasing stock, improve Cash Flow, purchasing a business car or truck, renovating or expanding the business and upgrading or purchasing equipment.

How to take advantage of the Small business $30,000 ATO write-off?

Australian small-business owners are celebrating the government’s proposed boost to the popular instant asset write-off scheme in last night’s federal budget, claiming it will allow them to invest further in their businesses.

Small Business Minister Michaelia Cash, said she supported using “any mediums” to help SMEs improve their awareness of the scheme, but ultimately said it was up to accountants to inform their clients.

Below we have formed a guide that may help you.

We understand that buying equipment for your business can be expensive, so its important that every business owner knows when and where they can write off their company purchases.

According to the Australian Taxation Office website, the $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed.

The $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed.  This provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed.

This guide has been created for you to help small business when they are looking for a work capital injection to get them through an urgent short term need or to address ongoing business requirements.

To be eligible, your business must:

  • Be a small business as recognised by the ATO
  • To find out how small businesses are defined, visit Small Business Entity Concessions – Eligibility.

Assets must:

  • Cost less than the instant asset write-off threshold
  • Purchased and used in the year the write-off is claimed
  • Find out more at Instant Asset Write-Off.

The guide outlines the main funding options from Capify. $30,000 instant asset write-off.

What do you call a person who owns a small business?
A person/s who owns a small business is commonly called a ‘small business owner’.

What is important to small business owners?

Small businesses are very important for local economies, keeping the money close to home and supporting neighbourhoods and communities.

Using the instant asset write-off, you can claim a deduction for each asset that cost less than the threshold that applied when the asset was first used or installed ready for use.

What makes a small business successful?

Many don’t make it to their fifth year anniversary. Those small businesses that survive are important Gross Domestic Profit and go on to employ most of the workforce.

Who can apply for an ATO business write off?
At a minimum, you must be a small business entity as defined by the ATO
Other eligibility requirements may apply.
Contact information ATO on 13 28 66

 

How do I claim the instant business asset write-off?
If you buy an asset that comes under the threshold, you can claim the business portion of the asset’s use in your tax return for that financial year. When it comes to trade-ins, the instant asset write-off is assessed based on the full purchase price of the item.

The $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the cancellation is claimed.

 

How to Apply for a Tax Write-Off?

There is no application required. The write-off is applied when you lodge your tax for the relevant year.  Find out more at Instant Asset Write-Off. Instant asset write-off thresholds using the simplified depreciation rules, assets costing less than the applicable instant asset write-off threshold are written off in the year they are first used or installed ready-for-use.

This threshold applies to each asset irrespective of whether the asset is purchased new or second-hand.  Speak to an accountant or financial plannerfor advice.


When can business owners claim the 30k instant tax write off?

Businesses are able to claim the asset tax write off at the end of the financial year period when they lodge their tax return if they are eligible with their tax accountant. Businesses tend to use this as an opportunity to increase their assets, so they are able to claim it. However, it is best to consult with a tax professional as this financial move may not be ideal for the business (Smallbusiness.wa.gov.au, 2019).

How to take advantage of the ATO Small business $30,000 write-off?

Australian small-business owners are celebrating the government’s proposed boost to the popular instant asset write-off scheme in last night’s federal budget, claiming it will allow them to invest further in their businesses.

Small Business Minister Michaelia Cash, said she supported using “any mediums” to help SMEs improve their awareness of the scheme, but ultimately said it was up to accountants to inform their clients.

Below we have formed a guide that may help you.

We understand that buying equipment for your business can be expensive, so its important that every business owner knows when and where they can write off their company purchases.

According to the Australian Taxation Office website, the $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed.

The $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed.  This provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed.

This guide has been created for you to help small business when they are looking for a work capital injection to get them through an urgent short term need or to address ongoing business requirements.

To be eligible, your business must:

  • Be a small business as recognised by the ATO
  • To find out how small businesses are defined, visit Small Business Entity Concessions – Eligibility.

Assets must:

  • Cost less than the instant asset write-off threshold
  • Purchased and used in the year the write-off is claimed
  • Find out more at Instant Asset Write-Off.

The guide outlines the main funding options from Capify. $30,000 instant asset write-off.

What do you call a person who owns a small business?
A person/s who owns a small business is commonly called a ‘small business owner’.

What is important to small business owners?

Small businesses are very important for local economies, keeping the money close to home and supporting neighbourhoods and communities.

Using the instant asset write-off, you can claim a deduction for each asset that cost less than the threshold that applied when the asset was first used or installed ready for use.

What makes a small business successful?

Many don’t make it to their fifth year anniversary. Those small businesses that survive are important Gross Domestic Profit and go on to employ most of the workforce.

Who can apply for an ATO business write off?
At a minimum, you must be a small business entity as defined by the ATO
Other eligibility requirements may apply.
Contact information ATO on 13 28 66

How do I claim the instant business asset write-off?

If you buy an asset that comes under the threshold, you can claim the business portion of the asset’s use in your tax return for that financial year. When it comes to trade-ins, the instant asset write-off is assessed based on the full purchase price of the item.

The $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the cancellation is claimed.

How to Apply for a Tax Write-Off?

There is no application required. The write-off is applied when you lodge your tax for the relevant year.  Find out more at Instant Asset Write-Off. Instant asset write-off thresholds using the simplified depreciation rules, assets costing less than the applicable instant asset write-off threshold are written off in the year they are first used or installed ready-for-use.

This threshold applies to each asset irrespective of whether the asset is purchased new or second-hand.  Speak to an accountant for advise.

What are the Instant asset write-off thresholds?

Criteria to be eligible, you must be a small business as recognised by the ATO To find out how small businesses are defined, visit Small Business.
Instant asset write-off thresholds
https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/In-detail/Depreciating-assets/Simplified-depreciation—rules-and-calculations

Speak to a lending specialist today on 1300 760 930 to get funds in 24 hours or start your application and apply now.

How to take advantage of the Tax Office Small business $30,000 write-off by getting a business loan?

Australian small-business owners are celebrating the government’s proposed boost to the popular instant asset write-off scheme in last night’s federal budget, claiming it will allow them to invest further in their businesses.

Small Business Minister Michaelia Cash, said she supported using “any mediums” to help SMEs improve their awareness of the scheme, but ultimately said it was up to accountants to inform their clients.

Below we have formed a guide that may help you.

We understand that buying equipment for your business can be expensive, so its important that every business owner knows when and where they can write off their company purchases.

According to the Australian Taxation Office website, the $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed.

The $30,000 Instant Asset Write-Off provides small businesses, such as a medical practice, with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed.  This provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the write-off is claimed.

This guide has been created for you to help small business when they are looking for a work capital injection to get them through an urgent short term need or to address ongoing business requirements.

To be eligible, your business must:

  • Be a small business as recognised by the ATO
  • To find out how small businesses are defined, visit Small Business Entity Concessions – Eligibility.

Assets must:

  • Cost less than the instant asset write-off threshold
  • Purchased and used in the year the write-off is claimed
  • Find out more at Instant Asset Write-Off.

The guide outlines the main funding options from Capify. $30,000 instant asset write-off.

What do you call a person who owns a small business?
A person/s who owns a small business is commonly called a ‘small business owner’.

What is important to small business owners?

Small businesses, such as hair and beauty, are very important for local economies, keeping the money close to home and supporting neighbourhoods and communities.

Using the instant asset write-off, you can claim a deduction for each asset that cost less than the threshold that applied when the asset was first used or installed ready for use.

What makes a small business succesful?

Many don’t make it to their fifth year anniversary. Those small businesses that survive are important Gross Domestic Profit and go on to employ most of the workforce.

Who can apply for a ATO business write off?
At a minimum, you must be a small business entity as defined by the ATO
Other eligibility requirements may apply.
Contact information ATO on 13 28 66

How do I claim the instant business asset write-off?
If you buy an asset that comes under the threshold, you can claim the business portion of the asset’s use in your tax return for that financial year. When it comes to trade-ins, the instant asset write-off is assessed based on the full purchase price of the item.

The $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the cancellation is claimed.

How to Apply for a Tax Write-Off?

There is no application required. The write-off is applied when you lodge your tax for the relevant year.  Find out more at Instant Asset Write-Off. Instant asset write-off thresholds using the simplified depreciation rules, assets costing less than the applicable instant asset write-off threshold are written off in the year they are first used or installed ready-for-use.

This threshold applies to each asset irrespective of whether the asset is purchased new or second-hand.  Speak to an accountant for advise.

What are the Instant asset write-off thresholds?

Criteria to be eligible, you must be a small business as recognised by the ATO. To find out how small businesses are defined, visit Small Business.
Instant asset write-off thresholds
https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/In-detail/Depreciating-assets/Simplified-depreciation—rules-and-calculations

Australia’s leading finance firm, Capify, can provide a solution to every business need by their ideal short-term business loan. This business loan will help the customer’s enterprise increase their working capital as it gives them the ability to purchase inventory and make missed or late payments.

This unsecured business loan differentiates itself from others as it has an approval process of only a short 24 hours and has loan terms from $5,000-$300,000, terms and conditions apply. This means enterprises are able to receive the money with no hassle, allowing them to get on the pathway of achieving their business goals.

Call 1300 760 930 to apply for funds to find out our non-fixed interest rates before April 2019 to get ahead of June 2020 tax financial income year. Capify does not provide line of credits.

Our mission is to help small businesses by providing simple, quick and responsible access to business funds

Capify was born out of the desire to offer small businesses an alternative and accessible lending option. Proudly we were the first to do so in Australia. With 10+ years of local experience providing small business loans working capital globally, Capify is Australia’s most experienced alternative lender to small business Australia.

With a customer-centric focus on service and simplicity; our vision is to support Australian businesses with tailored financial solutions.

With our philosophy, we work together to create the most flexible and accessible commercial business loans for our clients. This allows us to streamline our internal processes passing on time and cost savings to you.

Capify is Australia’s Leading unsecured small business lender and you can easily find us on Finder.com.au, Canstar, Mozo, InfoChoice, and other financial comparison websites.

Apply Now

How to apply for a Business loan for asset purchases with Capify?

Australia’s leading finance firm, Capify, can provide a solution to every business need by their ideal short-term business loan. This business loan will help the customer’s enterprise increase their working capital as it gives them the ability to purchase inventory and make missed or late payments.

This unsecured business loan differentiates itself from others as it has an approval process of only a short 24 hours and has loan terms from $5,000-$300,000, terms and conditions apply. This means enterprises are able to receive the money with no hassle, allowing them to get on the pathway of achieving their business goals.

Call 1300 760 930 to apply for funds to find out our non-fixed interest rates before April 2019 to get ahead of June 2020 tax financial income year. Capify does not provide line of credits.

How could small businesses use the funds?

  • Pay Bills
  • Marketing
  • Hiring extra staff
  • Purchasing Stock
  • Improve Cash Flow
  • Purchasing a Business car or Truck
  • Renovating or Expanding the business
  • Upgrading or Purchasing Equipment

Why choose Capify Products?

Capify presents ideal solutions to businesses who struggle to sustain adequate funds or want to achieve certain business goals. We offer two principal products and services that aid businesses in achieving their goals; Merchant Cash Advance and Capify small business loan.

Capify business loan ranges from $5,000 to $300,000 dollars which are deposited into the customer’s account where they will then have the ability to fund their business. This unsecured business loan will then allow enterprises to improve the health of their business and be repaid through small daily transactions.

Moreover, another business product that Capify offer is Merchant Cash Advance, which works best for businesses who tend to experience fluctuating cash flow.

Merchant Cash Advance refers to the business gaining a lump sum of money and repaying it through minor percentages of their EFTPOS transactions. This will benefit the business as they are less prone to shortages within their cash flow thus allowing them to increase capital whilst repaying the loan back.

As well as this, Capify provides their expertise to customers, suggesting new ways to improve the cash flow, tailored to their specific business.

Capify is Australia’s first small business lender since 2008, we have built and maintained a google review of 4.5/5 or see our Trustpilot score.

If you have any questions regarding business funding you can go to our Customer Help Center.

Who can apply for a ATO business write off?
At a minimum, you must be a small business entity as defined by the ATO
Other eligibility requirements may apply.
Contact information ATO on 13 28 66

How do I claim the instant business asset write-off?
If you buy an asset that comes under the threshold, you can claim the business portion of the asset’s use in your tax return for that financial year. When it comes to trade-ins, the instant asset write-off is assessed based on the full purchase price of the item.

The $30,000 Instant Asset Write-Off provides small businesses with an asset write-off of up to $30,000 for assets costing less than the instant asset write-off threshold which is purchased and used in the year that the cancellation is claimed.

How to Apply for a Tax Write-Off?

There is no application required. The write-off is applied when you lodge your tax for the relevant year.  Find out more at Instant Asset Write-Off. Instant asset write-off thresholds using the simplified depreciation rules, assets costing less than the applicable instant asset write-off threshold are written off in the year they are first used or installed ready-for-use.

This threshold applies to each asset irrespective of whether the asset is purchased new or second-hand.  Speak to an accountant for advise.

What are the Instant asset write-off thresholds?

Criteria to be eligible, you must be a small business as recognised by the ATO To find out how small businesses are defined, visit Small Business.
Instant asset write-off thresholds
https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/In-detail/Depreciating-assets/Simplified-depreciation—rules-and-calculations

 

Speak to a lending specialist today on 1300 760 930 to get funds in 24 hours or start your application and apply now.

Apply Now

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FAQs

What are your interest rates?

We don’t use interest rates for our funding solutions.
Instead Capify offers an agreed total payback amount. The payback amount depends on the type of business you operate and the term you require the business finance for. This way your business knows up front the total costs, making managing your cash flow easy.

What are your loan amounts and terms?

Capify can lend your business from $5,000 to $300,000 in unsecured small business funding to SMEs. The repayment terms are flexible and depend on the monthly turnover of your business. Terms range from 3 months to 12 months.

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